Industrials Up On Tax-Bill Talk -- Industrials Roundup

Shares of manufacturing and transportation companies rose amid optimism about the outlook for tax reform and interest rates.

The Trump administration and top congressional officials intend to release a more detailed tax plan in the next few weeks, Treasury Secretary Steven Mnuchin said in an interview with The Wall Street Journal on Thursday.

Continue Reading Below

In a good sign for the freight shipping industry, which was brought to it knees during the commodities bust, Cosco Shipping, the world's third-biggest container operator, said it swung to a $283 million profit in the first half of the year, helped by higher freight rates and demand. Cosco, which recently closed a $6.3 billion takeover of Hong Kong rival Orient Overseas Container Lines, is looking to spend at least another $1 billion on acquisitions, as reported earlier.